Still Money for Blogs: SB Nation Takes $5 Million

Sports blogging network SB Nation has raised $5 million in a round that included Accel Partners and Allen & Co

The SB Nation blog network was founded by Daily Kos’ Markos Moulitsas in 2003 and has over 150 sites covering geospecific sporting coverage of American sports teams.

Sports blogs have always been a difficult vertical. Audiences are fractured by geography and personal likes, so individual blogs need to work extra hard to build audiences from a small pool of potential readers. There has been an increased interest in the space over the last few years as advertisers and franchise owners looked at new ways to reach fans online, often resulting in high CPM rates for those lucky enough to get a look in.

The network, like The Daily Kos is powered by niche blogging platform Scoop

(via PaidContent).